FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

90. Eagle Sporting Goods has P2.5 million in inventory and P2 million in accounts receivable. ltsaverage daily sales are P100,000. The firm's payables deferral period

image text in transcribed 90. Eagle Sporting Goods has P2.5 million in inventory and P2 million in accounts receivable. ltsaverage daily sales are P100,000. The firm's payables deferral period is 30 days andaverage daily cost of sales are P50,000. What is the length of the firm's cash conversionperiod? [29] A. 40 days C. 60 daysB. 50 days D. 100 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting for Managers

Managerial Accounting for Managers

Authors: Eric Noreen, Peter Brewer, Ray Garrison

4th edition

1259578542, 978-1259578540

More Books

Students also viewed these Accounting questions

Question

★★★★★
Opening Case: Self-awareness Can Help Your Career Two women who possess a high degree of self-awareness, Rene Trubiao and Kelly Roy, are profiled. Rene is a marketing manager for Maracay Homes, while...

Answered: 1 week ago

Question

★★★★★
Analyse the content of your DMOs advertising to determine whether the intent is to stimulate cognitive, affective, or conative brand associations.

Answered: 1 week ago

Question

★★★★★
=+c) Is the companys process for making flexible graphite sheets out of control?

Answered: 1 week ago

Question

★★★★★
On December 1, 2015, the Basma Wholesale Company is attempting to project cash receipts and disbursements through January 31, 2016. On January 31, 2016, a note will be payable in the amount of...

Answered: 1 week ago

Question

★★★★★
In 2018, the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method. At December 31, 2017, B & Bs inventories were $31.2 million (FIFO). B &...

Answered: 1 week ago

Question

★★★★★
Early in the year, John Raymond founded Raymond Engineering Co. for the purpose of manufacturing a special flow control valve that he had designed. Shortly after year-end, the companys accountant was...

Answered: 1 week ago

Question

★★★★★
What is the amount of 'Cash Flow from Investing Activities' as calculated in the Statement of Cash Flows for Year 1 for Lowell Inc using the information in the sheet attached here?

Answered: 1 week ago

Question

★★★★★
1 . You may purchase a parcel of land for its current market price of $ 6 , 0 0 0 , 0 0 0 . Restrictive covenants only allow you to build a hotel on the land. 2 . The parcel of land is currently...

Answered: 1 week ago

Question

★★★★★
Write SQL statement to create a single table for the STAR entity identified in the E-R model you created last week. Then add one or two rows of sample data into the STAR table (feel free to pick your...

Answered: 1 week ago

Question

★★★★★
2. If the coordinate frame oixiyizi is obtained from the coordinate frame ooxoyozo by a rotation of /2 about the x-axis followed by a rotation of /2 about the fixed y-axis, find the rotation matrix R...

Answered: 1 week ago

Question

★★★★★
In 2 0 2 3 , Sterling and Lana Archer ( ages 3 1 and 2 9 ) are married and live in New York, NY . Their address is 8 8 0 5 th Ave Unit 2 2 A , New York, NY 1 0 0 2 1 . They have a two - year - old...

Answered: 1 week ago

Question

★★★★★
Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X

Answered: 1 week ago

Question

★★★★★
Answer this question in your own words. Describe the historical events that led to the creation and growth of the need for audits.Be sure to include the events of the industrial revolution, the need...

Answered: 1 week ago

Question

★★★★★
The Morningside Company Ltd had the following results for the year to 31 December 2013. A single product a woggley was made by the company. Budget Actual Sales in units 140,000 168,000 Sales in ...

Answered: 1 week ago

Question

★★★★★
Flint Palatignium Ltd calculates the prices of its output by adding a mark-up of 15% to standard costs. These standard costs are arrived at by reference to budgeted outputs and estimated direct costs...

Answered: 1 week ago

Question

★★★★★
Felicidade plc manufactures a detergent in one of its factories. The information for the year to 30 June 2014 was as follows: Budget Actual Sales in litres 80,000 75,000 Sales in 480,000 480,000 The...

Answered: 1 week ago

Previous Question Next Question